Loan Comparison: 4.14% vs 6.5%
14561 46th, Denver, CO 80239 · 3bd/2ba · $421,000
List Price
$421,000
Assumable Rate
4.14%
Remaining Balance
$208,029
Equity Gap
$212,971
Loan Type
FHAAdjust Your Scenario
$21,050
$21,050$212,971
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 6.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,528/moAssumable @ 4.14% + gap loan
$2,486/moAssumed loan: $1,010/mo
Gap financing: $1,476/mo
$42less per month with the assumable
Your Savings on This Property
14561 46th, Denver · 4.14% FHA vs 6.5% conventional
$42
per month
$507
per year
$15,201
over 30 years
$15,201
interest saved
How gap financing works: The equity gap ($212,971) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,050, 5% of purchase price) and a second mortgage for the rest ($191,921 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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